Ahmed Sherif
Research expert covering IT services and gaming hardware
Game consoles - statistics & facts
When they burst onto the scene in the early seventies, game consoles revolutionized home entertainment, turning living rooms into vibrant arcade arenas. Today, next-generation game consoles, manufactured by the likes of Microsoft, Nintendo, and Sony, feature some of the fastest computing and graphics processors. These devices offer 4K and 8K resolution output, allowing users to play video games that take part in massive virtual worlds and compete against or cooperate with other players around the globe. While allowing users to control a game that appears on an electronic display remains the primary focus of game consoles, most modern devices can perform the same functions as a home entertainment system.
With new game consoles on the horizon, the multi-billion-dollar game console market shows no signs of slowing down, and is forecast to continue growing in the coming years
PlayStation 5 leads the game
The PlayStation 5 console leads the way for current-generation game consoles, with nearly 22 million devices sold in 2023 alone. Nintendo Switch holds the record for the best-selling new-gen console in a single year, having sold over 28 million units in 2020. Overall, three of the top five best-selling consoles of all time in 2024 were Nintendo products: the Nintendo DS, the Switch, and the Game Boy. However, the PlayStation 2 is the most popular video game console of all time, at almost 160 million units. Other major competitors include Microsoft’s Xbox console family, with the Xbox 360 ranking as the ninth best-selling console of all time. Each of the major gaming consoles has launched its own online platform for gaming services, and exclusive features, such as the PlayStation Network, the Xbox Network (formerly Xbox Live), and Nintendo Switch Online.United States as the single largest market
In 2024, revenue from the global video game console market is expected to generate over 24 billion U.S. dollars, up from around 17 billion U.S. dollars recorded five years before. Notably, the United States stands out as the largest single country market, with console revenues set to reach 7.9 billion U.S. dollars. This significant contribution underscores the U.S. market's dominance in the global gaming landscape. In the same year, gaming console revenues in the entire continent of Europe were predicted to generate a similar amount of 8.5 billion U.S. dollars.With new game consoles on the horizon, the multi-billion-dollar game console market shows no signs of slowing down, and is forecast to continue growing in the coming years
